CMA CGM, CIMC partner on new vessel order

Wednesday, September 26, 2012

The liner carrier CMA CGM will charter 10 9,200-TEU vessels from China International Marine Containers (CIMC), the carrier confirmed to American Shipper this week.
“CMA CGM has signed a long-term charter agreement with CIMC for 10 x 9200-TEU container vessels," the carrier said. "This agreement is subject to CMA CGM board of directors approval. These 10 container vessels will be built in two Chinese shipyards and are planned to be delivered in 2014 and 2015. These new vessels will allow CMA CGM to modernize even further its fleet by replacing some existing vessels and in the prospect of Panamal Canal enlargement works.”
The move is noteworthy as CIMC’s primary business is manufacturing boxes, not owning ships. CIMC is the world’s largest producers of ocean containers.
The order allows CMA CGM to add capacity to its fleet, with its order book noticeably bare prior to the orders. As of late last week, the line had only six vessels on order, accounting for less 4 percent of its existing fleet. - Eric Johnson